The Pew Research Center found in 2022 that adults under the age of 30 are about as likely to only have a positive view of socialism (28%) as they are to have a positive view of only capitalism(24%). There are fundamental economic differences worth remembering. Capitalism - choiceSocialism - coercion The MarketHow does capitalism, or a market economy, work? It is driven by the choices of consumers.An important aspect to remember about a market economy is that exchanges are voluntary. Both the sellers and the buyers are better off, or they would not have entered the exchange.Suppose you don’t want to buy a car this year. Can the car companies make you buy one? No. Even big firms are only big because we choose to buy their products. In a market economy, consumer choices and movements in prices and profits guide the production and use of scarce resources to their most valuable uses. Firms’ profit motive induces them to respond to consumer desires. If demand goes up for a product, …
Sweet Marie
During the COVID pandemic, Greg Tivis, a full-time musician, and I played music for a Happy Hour at the PARC Traditions independent living facility in Bryan, TX. Given the health concerns, we played outside. Most of the attendees were on their balconies, which surrounded us on each side, but a few were in chairs outside at a distance from us. Greg decided to video the performance live on Facebook. While we were playing, a woman approached Greg at the piano. An aid soon escorted her away, only to have her reapproach Greg with a little dancing. This event spawned a short story that I am sharing with you in this post. For a brief background, once a week I am in a literature discussion with three friends, Lane Rawlins, Mark Morlock, and David Knowles. All are Ph.D. economists, all retired, and all lovers of literature. Lane is a graduate of the University of California at Berkeley, and he was the supervisor of Mark’s and Dave’s Ph.D. dissertations at Washington State University. …
Post 2 – Ashley in History Class
It is heck of thing to have to start out Post 2 correcting something in Post 1, but it is what it is. 😊 One must beware of quoting by memory. In Post 1 I quoted Yeats incorrectly. I am grateful to Lane Rawlins for pointing out that the correct Yeats writing is “I spit into the face of Time that has transfigured me.” The correct quote provides a much different message than my post, which said disfigured me. Yeats conveys that he is elevated by time, not brought to a negatively implied physical state of being. Yeat’s expression reminds me of what Frank Sinatra sang in “It Was A Very Good Year”. “But the days are short in the autumn of the year And now I think of my life as vintage wine from fine old kegs From the brim to the dregs it poured sweet and clear It was a very good year” I did not relate to Frank Sinatra much when I was younger. Now I relate. 😊 If you have not heard the song in awhile I invite you to …
Post 1 – A MEMORY LEANS TO THE WIND
Age and Memories This getting older is an adjustment. The Irish poet, William Yeats, had a little trouble with it. He once wrote, “I spit in the face of the time that has disfigured me.” I have not seen the face of time, yet, but I did ask a question in my song “Judy Lou”. “Is a clock a circle time is passing through?” Perhaps a clock is as close as we get to seeing the face of time. Even if you still feel young, I have found out by experience the sure-fire way to know you are now old. There are two criteria. The first is that everyone starts calling you “young man”. How is it going today, young man? You are looking good today, young man. When I was not "old", no one ever called me “young man”. The second sure sign is a benefit. Women start holding the door open for you. Well, I guess there are unforeseen advantages to every era in life. There have always been interesting warnings about age. In 1967, when Bob Dylan recorded what became known as The Basement …